Scotiabank Begins Coverage on Regeneron Pharmaceuticals (NASDAQ:REGN)

Equities research analysts at Scotiabank assumed coverage on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a research note issued on Thursday, MarketBeat reports. The brokerage set a “sector perform” rating and a $650.00 price target on the biopharmaceutical company’s stock. Scotiabank’s price objective would indicate a potential downside of 6.27% from the company’s previous close.

Other research analysts have also issued research reports about the company. Redburn Atlantic raised Regeneron Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, August 14th. Truist Financial dropped their target price on Regeneron Pharmaceuticals from $940.00 to $812.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Morgan Stanley decreased their price target on Regeneron Pharmaceuticals from $761.00 to $756.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Citigroup lifted their price target on Regeneron Pharmaceuticals from $660.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $850.00 target price on shares of Regeneron Pharmaceuticals in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Regeneron Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $772.76.

Regeneron Pharmaceuticals Trading Down 0.2%

Regeneron Pharmaceuticals stock opened at $693.50 on Thursday. The stock has a 50-day moving average price of $598.76 and a 200 day moving average price of $571.03. Regeneron Pharmaceuticals has a 52 week low of $476.49 and a 52 week high of $800.99. The stock has a market cap of $72.89 billion, a PE ratio of 16.61, a P/E/G ratio of 2.03 and a beta of 0.31. The company has a current ratio of 4.06, a quick ratio of 3.72 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.73 by $2.10. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Regeneron Pharmaceuticals had a net margin of 32.13% and a return on equity of 13.76%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $12.46 EPS. Equities research analysts predict that Regeneron Pharmaceuticals will post 35.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christine A. Poon sold 6,500 shares of Regeneron Pharmaceuticals stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $654.27, for a total transaction of $4,252,755.00. Following the transaction, the director owned 2,352 shares in the company, valued at approximately $1,538,843.04. The trade was a 73.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jason Pitofsky sold 431 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $651.43, for a total value of $280,766.33. Following the completion of the sale, the vice president owned 4,233 shares of the company’s stock, valued at approximately $2,757,503.19. This represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 7.02% of the company’s stock.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

Several hedge funds have recently modified their holdings of REGN. Vanguard Group Inc. raised its stake in shares of Regeneron Pharmaceuticals by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 9,407,891 shares of the biopharmaceutical company’s stock valued at $5,966,767,000 after purchasing an additional 121,545 shares in the last quarter. State Street Corp grew its stake in Regeneron Pharmaceuticals by 0.9% in the second quarter. State Street Corp now owns 4,832,002 shares of the biopharmaceutical company’s stock worth $2,536,801,000 after purchasing an additional 42,343 shares in the last quarter. Dodge & Cox increased its holdings in Regeneron Pharmaceuticals by 18.9% in the third quarter. Dodge & Cox now owns 4,550,845 shares of the biopharmaceutical company’s stock valued at $2,558,804,000 after buying an additional 724,562 shares during the last quarter. Franklin Resources Inc. raised its stake in Regeneron Pharmaceuticals by 6.0% during the third quarter. Franklin Resources Inc. now owns 2,453,143 shares of the biopharmaceutical company’s stock valued at $1,379,329,000 after buying an additional 139,647 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Regeneron Pharmaceuticals by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,175,026 shares of the biopharmaceutical company’s stock worth $1,379,467,000 after buying an additional 89,579 shares during the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.